7049 Superior Ave Cleveland, OH 44103-2874
Property profile & analytics
7049 Superior Ave Cleveland, OH 44103-2874
- Warehouses
- 37,448 SF
- 0.32 lot acres
Property ID
US66-2598058
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Warehouses
Property Details for 7049 Superior Ave
- Year built
- 1908
- Construction
- WOOD
- Lot size
- 0.32 lot acres
- Property size
- 37,448 SF
- Zone code
- MF-1
- Property type
- Warehouses
- APN
- 105-23-024
- APU
- 10523024
Description
This exceptional investment opportunity presents a 39-unit apartment building located at 7049 Superior Ave, Cleveland, OH 44103, in the vibrant St. Clair-Superior neighborhood. The property, known as Abel Manor Apartments, boasts a total of 46,810 square feet across four stories, situated on a 13,795 square foot lot. Built in 1908 and renovated in 2020, this Class C building offers a compelling value-add proposition. The unit mix includes 30 two-bedroom, 6 three-bedroom, and 3 one-bedroom apartments. Currently vacant, this bank-owned foreclosure presents a unique chance for significant returns. The asking price is $885,000, translating to $22,692.31 per unit and $18.91 per square foot. With a pro-forma NOI of $275,000, the property projects a substantial 31.07% cap rate. The permitted zoning is MF, and the property features one pad. This is a gut rehab opportunity in a diverse and culturally rich neighborhood with access to green spaces and Lake Erie. The property's APN is 105-23-024. This is a rare chance to acquire a significant multifamily asset in a rapidly developing area of Cleveland. The property is categorized as a subsidized apartment building.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Cleveland
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.6399
- Latitude
- 41.5195
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$5,646
$7,980
$48,550
$56,530
-
$22,800
$138,700
$161,500
